Rogerd, I have not been able to contact the company and I still...

Rogerd, I have not been able to contact the company and I still do not know for certain that pdf status is still current. I would like to think a change in that would necessarily be reported to the market and we have seen no such advice.

I am only in MEC for PEP11. Sorry to say their other projects were rather meaningless to me and they have pretty much since died anyway. As far as I know, the company has little capital to invest in other projects and to my understanding it will make nothing of its PEP11 investment if the distribution happens.

I understand MEC must put the distribution to a vote but they should not be supporting it. As per the agreement, if the distribution is voted down, then MEC need to stay out of the affairs of the Advent board. I say they should just retain the shares in Advent and let Breeze do his thing. It's clear Breeze is either going to win this, or he will end up destroying it.

The loss of pdf status in our interest in PEP11 might not be apparent now. But if we sell in the lead up to the next drill, or make a motsa if they hit gas, we will not like handing over 50% to the tax man. Sure pdf status also means we can't claim losses. But I never bought shares into PEP11 (via MEC) expecting to lose...